Company A has probability .01 of defaulting, company B has probability .005 of default-ing, if company A defaults the probability that company B defaults increases to .02.a) What is the probability that both company A and company B default?b) If company B defaults what is the probability that company A will default as well?

Answered: Image /qna-images/answer/db1eb891-8d77-4167-a559-b6b348609272.jpg

Answered: Company A has probability .01 of…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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At a certain state court the jury will convict a defendant if at least 8 out of 12 jurors support a “guilty” verdict. The jurors determined their verdict independently from each other. The probability that each juror will get the “right” decision is 0.8 (which means to convict when the defendant commit the crime and to acquit when he didn’t). a) Find the probability of convicting an innocent person.b) Find the probability of acquits a guilty person.c) Assume that 25% of the defendants in the state are innocent. In a certain year 200 people put on trial. What is the expected value and variance of the number of cases in which juries got the right decision?
Ken is considering entering a local fishing tournament, but his choice to enter depends somewhat on whether his rival, Billy, will enter the same fishing tournament. Ken thinks that he has a 0.40 probability of winning the fishing tournament if Billy does not enter the tournament, and a 0.15 probability of winning if Billy does enter the fishing tournament. If the probability that Billy enters the fishing tournament is 0.30, a) find the probability that Ken wins the fishing tournament. b) If Ken does not win the fishing tournament, what is the probability that Billy did not enter the tournament?
From a group of 10 children, a team of 5 (red team) is randomly chosen. The remaining 5 children are on blue team. Two of the children are best friends, what is the probability they will end up on the same team? Can u show me the work for this?
The probability that Taylor Swift is Austin’s favorite music artist is .10. The probability that he will go to one of her concerts is .84. However, the probability that he does not like Taylor Swift and will go to a concert (because his wife makes him) is .75. a.) Write down the 3 pieces of information given in terms of probabilities involving event A (Taylor Swift is Austin’s favorite music artist) and event B (Austin will go to a Taylor Swift concert). b.) Summarize the above information using a probability table. c.) Find the probability that Taylor Swift is Austin’s favorite music artist or Austin will go to a Taylor Swift concert.
Suppose a student is randomly selected. The probability that the student is a senior is 0.22. The probability that the student has a driver's license is 0.30. If the probability that the student is a senior and has a driver's license is 0.16, what's the probability that the student isn't a senior and doesn't have a driver's license? a)0.06 b)0.14 c)0.64 d)0.70 e)0.78
A large store has a customer service department where customers can go to ask for help with store-related issues. According to store records, approximately 4 of customers who go to the service department ask for help finding an item. Assume the reason each customer goes to the service department is independent from customer to customer. Based on the approximation, what is the probability that at least 1 of the next 4 customers who go to the service department will ask for help finding an item? 4(1) 1 – (¹)¹ 1-()* 4(4)'()* Q000
A hospital has an urgent need for four units of type A+ blood. Assume that approximately 28% of the population has this type of blood. If there are 12 people waiting to donate one unit of blood, what is the probability that the hospital will be able to meet its need? (Hint: Subtract the probability that fewer than four people have A+ blood from 1.)
Suppose the probability of a customer placing an order at a pizza place for a pepperoni pizza is 0.6, and for something else with probability 0.4. We assume if a customer calls the pizza place, he orders something, and that all incoming calls are indepen- dent. What is the probability that the pizza place will get the first pepperoni pizza order on the 4th call of the day?

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